Just Because You Lose Your Health Doesn't Mean You Have To Lose Your Wealth According to the U.S. Department of Health and Human Services Administration on Aging around 70 percent of people over the age of 65 will require long-term care services at some point in their life. This means they will need assistance with at least two activities of daily living (ADLs) such as eating, dressing, or bathing. Some may need an even higher level of care such as skilled nursing care. According to the latest AOA research, the average woman needs long-term care services for 3.7 years, and the average man for 2.2 years. Who Pays the Costs of Long-Term Care? At present, most long-term care is paid for from: an individual’s own resources, his or her family’s resources, a few types of insurance coverage's, or Medicaid. Medicaid is designed to cover the health care costs of a mostly indigent population. In fact, Medicaid uses the federal poverty level to determine eligibility. Medicare covers only the following long-term care service: Skilled Nursing Facility Benefit: After you have been in a hospital for at least three days, Medicare may pay for your care while you recover in a certified skilled nursing facility for up to 100 days. You are responsible for a daily co-payment for every day in the nursing home between the 21st and the 100th day. After 100 days the expense falls on the individual. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment, tax, or legal advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. How Much is Care Where You Live If You Ever Need Care, What Plan Sounds Better: Your Plan or the State's Plan? Now That You Know the Answer, What's Your Plan? Name Email Address Phone Question Thank you! Oops! Take Steps Today to Manage Your Estate Tomorrow In this ebook, you'll learn the critical elements of an estate strategy. Considering these crucial details may help an executor uphold your values, goals, and desires for your estate. First Name Last Name Email Address Thank you! Oops!